Amazon grabs three cryptocurrency domains

Amazon has acquired three domain names that are associated with cryptocurrency in a move that would be interpreted in many different ways. The company may be having plans to enter the cryptocurrency business or planning to start accepting cryptocurrencies as a mode of payment. It may also be trying to protect its brand name from malicious use.

The domains acquired by Amazon and registered on Tuesday are amazoncryptocurrency.com, amazoncryptocurrencies.com and amazonethereum.com. This is not the first time Amazon has laid hands on a domain related to cryptocurrency. The company acquired amazonbitcoin.com three years ago and redirected it to Amazon.com.

The most famous cryptocurrency is bitcoin, which has grown exponentially, hitting the $6,600 mark last week on news of CME’s intention to unveil bitcoin futures before the end of the year.

Bitcoin, which remains the most valuable cryptocurrency, has been getting occasional boosts including last month when it rallied on rumors that Amazon would start accepting bitcoins on its platform.

Patrick Gauthier, Amazon Pay’s Vice President, indicated last month that the e-commerce giant had no immediate intentions to accept cryptocurrencies because the market has not exhibited the demand threshold necessary for consideration.

Amazon grabs three cryptocurrency domains was last modified: November 4th, 2017 by admin